Chevrolet Corvette Stingray C7 Forum - View Single Post - Advice on pursuing a diminished value claim

Mr_Draco · 09-30-2013, 07:42 AM

All you can do is simply request it. If you get it you get it, if you get denied they should at least give you information on why and you will know what course of action you need to take.

A lot of insurance companies will only pay it out now if you sale or trade the vehicle within a certain amount of time after the accident (I've seen anywhere between 30-90 days after because the value of the vehicle doesn't diminish until you actually sale the vehicle).

Also most states have ruled that it's not the insurance companies responsibility to pay it, it's the responsibility of the party that caused the wreck. Be prepared to sue the person who caused the accident and take them to court. However the court will not rule in your favor if you keep the vehicle, you must sale it first.

09-30-2013, 07:42 AM	#2
Mr_Draco Drives: 2SS/RS Join Date: Sep 2008 Location: Western North Carolina Posts: 7,413	All you can do is simply request it. If you get it you get it, if you get denied they should at least give you information on why and you will know what course of action you need to take. A lot of insurance companies will only pay it out now if you sale or trade the vehicle within a certain amount of time after the accident (I've seen anywhere between 30-90 days after because the value of the vehicle doesn't diminish until you actually sale the vehicle). Also most states have ruled that it's not the insurance companies responsibility to pay it, it's the responsibility of the party that caused the wreck. Be prepared to sue the person who caused the accident and take them to court. However the court will not rule in your favor if you keep the vehicle, you must sale it first.